Volcon (NASDAQ:EMPD) Issues Quarterly Earnings Results

Volcon (NASDAQ:EMPD) posted its quarterly earnings results on Friday. The company reported $0.80 earnings per share (EPS) for the quarter, FiscalAI reports. Volcon had a negative net margin of 43,296.70% and a negative return on equity of 58.08%. The firm had revenue of $0.10 million for the quarter.

Volcon Stock Down 3.4%

Volcon stock traded down $0.07 during mid-day trading on Friday, hitting $2.00. The company’s stock had a trading volume of 172,188 shares, compared to its average volume of 541,525. The firm’s 50 day moving average is $2.96 and its 200 day moving average is $3.77. The company has a market cap of $56.32 million, a PE ratio of -1.90 and a beta of -0.36. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.47 and a quick ratio of 0.44. Volcon has a 52-week low of $1.95 and a 52-week high of $6.61.

Insider Transactions at Volcon

In related news, major shareholder Empery Asset Management, Lp purchased 500,000 shares of Volcon stock in a transaction dated Tuesday, September 1st. The stock was acquired at an average cost of $3.59 per share, with a total value of $1,795,000.00. Following the completion of the transaction, the insider directly owned 4,930,345 shares of the company’s stock, valued at $17,699,938.55. This trade represents a 11.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Tice Brown sold 11,179 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $2.79, for a total transaction of $31,189.41. Following the completion of the sale, the insider directly owned 2,162,315 shares of the company’s stock, valued at $6,032,858.85. This trade represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have acquired 1,900,000 shares of company stock valued at $5,863,000 and have sold 16,143 shares valued at $44,259. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

EMPD has been the topic of several analyst reports. Lake Street Capital assumed coverage on shares of Volcon in a research report on Tuesday, September 29th. They issued a “buy” rating and a $6.00 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Volcon in a research note on Thursday, October 15th. Finally, Wall Street Zen upgraded shares of Volcon from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Volcon has an average rating of “Moderate Buy” and an average price target of $6.00.

About Volcon

Volcon, Inc was an American powersports company focused on developing and selling all-electric off-road vehicles. Its product lineup included electric motorcycles and powersports vehicles designed for recreational riding, utility use and outdoor applications.

The company’s products included the Grunt and Runt electric motorcycles, the Brat electric bike and the Stag electric utility terrain vehicle. Volcon marketed its vehicles through a combination of direct sales, dealers and distribution partners, primarily serving customers in the United States and select international markets.

Founded in 2020 and headquartered in Texas, Volcon was led during its operating years by Chief Executive Officer Jordan Davis, among other executives and board members.